Climate insurance gains importance

Brazil has been recording a significant increase in climate-related disasters in recent years. A study by the Brazilian Alliance for Ocean Culture points out that, over the last decade, events caused by rainfall have grown by 222%. Data from the Civil Defense and INPE also indicate an increase of 30% in heatwaves and 40% in the frequency of gales, while between 2023 and 2024 more than 1,300 municipalities suffered from severe droughts, generating losses exceeding R$ 150 billion. The insurance sector faces challenges in the face of this reality. Bruno Mazzali, director of BRB Seguros, a unit of Wiz Co (WIZC3), states that the penetration of climate insurance is still low and the measurement of risks is complex. He cites the case of Rio Grande do Sul, where losses of R$ 89 billion had only R$ 6 billion covered, showing the large gap in protection against natural disasters. “There is no way to ignore it: the bill has arrived. The consequences of climate change are increasingly ...